First time buyer, 2012 Odyssey

[comingthisway]

Hi, I'm looking to get my first auto loan ($15,500) for a 2012 Odyssey with roughly 100K miles.

I had once applied for an autoloan pre approval 2 years ago with Orange County Credit Union but had been declined because at the time I had no credit history and only had one secured credit card with a $500 limit.

My current credit info is below:

Credit Score: 710 (Eq) - 703 (TU) - 698 (Ex) (Scores from myFico)

AAoA: 10 months (Oldest card currently is 2 years and 1 month)

# of positive trade lines: 4 (additionally, 1 Amex PRG NSPL card that doesn't show up for some reason)

# of negative trade lines: 0

Income: 114,000

Length of Employment: 7 months

Previous Loan Experience: No previous loans, only CCs

Debt-to-Income (DTI): roughly 26%

Year of Car: 2012

Miles: 99,500

Purchase/Refinance: Purchase (Private party)

Requested loan term (XX Months): 72

Down payment amount: 0

Co-borrower/Co-Signer: none (can be arranged if needed)

Other: My current max credit is 22,500 and utilzation is at 53%. Don't have any late payments or negatives of any kind. I plan on bringing this down to below 10% by next week but unfortunately can't wait right now as the seller wants to get this done asap. I also can put some down payment if need be but I don't plan on doing so until I get some sort a decision from OCCU. I was told OCCU pulls Experian, which has 3 credit inquiries from Nov, 2016, not sure how that will affect anything. 

I was also thinking of applying at DCU but unsure right now.

Just not sure if I'll get approved or not, considering I was declined once before so thought i'd ask here as this community has helped me enormously in taking care of my credit.

Thanks!

[comingthisway]

So well heard back from OCCU and was told that I had been declined because of my newly employment and the high utilization.

The loan officer wouldn't budge no matter what I said, so I offered to bring a co-signer and they were okay with me doing that but I'm not sure if I want to do that.

I'm thinking I'll bring down my utilization to 10%-15% and then apply at DCU or Ascend CU.

Open to any other suggestions as well.

[comingthisway]

So after OCCU declined me I wasn't sure if I would be able to get a loan or not but I still went ahead and applied to DCU and thought i'll give Springboard Auto a go as well.

I'm stil waiting for DCU to get back to me on their decision but after applying to Springboard Auto, I was inundated with calls and emails from a company called AUTOPAY.

I figured I might as well return their calls and talked to a nice loan officer who was able to get me a loan for 60 months at 5.49% from US Alliance CU. (Reading online reviews on Autopay, sounds as if they are middle men in helping you getting loans and then tag you with hidden fees)

In the meanwhile, I had also applied at Patelco CU online and they instantly pre approved me for the loan and when I talked to a loan officer, she was also very welcoming and gave me a 3.95% for 72 months. 

I was really happy with the Patelco experience (my brother is also a member and has his autoloan through them and he only has good things to say about them) but the problem was they had no local branches and they were asking the current owner to mail the original title before they would issue funds which, ofcourse, would make anyone uneasy.

Out of desperation, I decided to just go to Bank of America branch, who I exclusively bank with and applied for a loan and was also approved but for 7.99% at 72 months.

They'll also be able to directly transfer the funds in my account instead of me having to wait for a Cashier's check and they don't require the original title, so the current owner and I can just goto a local branch and get a copy faxed out to the loan officer and I should get the funds within 24 hours.

I'm not really happy with the rate I'm getting but hopefully, once I bring my utilization down, I'll see if I can get it refinanced to a lower rate.

I also plan on calling DCU tomorrow and see what they say, I will open an account with them and Patelco CU right now and see where those relationships go, they might help me refinance the loan at a later date.